Companies Hallador Energy Co
Hallador Energy (HNRG): executive pay, fiscal 2025
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CEO pay, last three years
- $997,800FY2023
- $2,823,771FY2024
- $1,442,407FY2025
CEO total pay was $1,442,407 in fiscal 2025, down from $2,823,771 in fiscal 2024.
FY2025: salary $675,000 · bonus $94,177 · stock awards $0 · option awards $0
Executives and directors
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Brent Bilsland | $675,000 | $94,177 | $0 | $0 | $659,230 | $0 | $14,000 | $1,442,407 |
| President and Chief Executive Officer | ||||||||
| Marjorie Hargrave | 201,539 | 153,333 | 0 | 0 | 0 | 0 | 777,893 | 1,132,765 |
| Former Chief Financial Officer | ||||||||
| Heath Lovell | 450,000 | 61,153 | 0 | 0 | 428,072 | 0 | 14,000 | 953,225 |
| Chief Operating Officer | ||||||||
| Todd Telesz | 250,000 | 18,907 | 400,000 | 0 | 132,345 | 0 | 4,615 | 805,867 |
| Chief Financial Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Brent Bilsland | $1,442,407 | $2,823,771 | $997,800 | ↓ −1,381,364 |
| Marjorie Hargrave | 1,132,765 | 941,641 | — | ↑ +191,124 |
| Heath Lovell | 953,225 | 1,380,339 | 653,200 | ↓ −427,114 |
| Todd Telesz | 805,867 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The Compensation Committee has determined compensation amounts using various informal factors, such as our financial status, available resources, the need to attract and retain executive talent, and comparisons with the pay levels of other executives at the time of each decision. In reaching these decisions, the committee has considered the competitive market for similar positions in our peer group, drawing on general knowledge of executive compensation among industry peers from informal conversations with recruiting firms, research, and personal experience with the market. Therefore, the Compensation Committee does not formally benchmark executive compensation against our peer group or use a strict formula to set executive pay according to survey data. Instead, the committee bases its decisions on the aforementioned factors and information.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | F.W. Cook & Co. |
| Clawback policy | true |
| Anti-hedging | — |
| Anti-pledging | — |
Equity grants and outstanding awards
No plan-based awards are on file for this fiscal year.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Todd Telesz | RSU | 24,907 | — | $474,229 |
| Heath Lovell | RSU | 81,728 | — | 1,556,101 |
| Brent Bilsland | RSU | 210,157 | — | 4,001,389 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| David J. LubarIndependent · Audit (Chair) · Compensation | $55,000 | $55,000 | $0 | $0 | $0 | $110,000 |
| Charles R. Wesley IVIndependent · Compensation (Chair) · Nominating | 50,000 | 50,000 | 0 | 0 | 0 | 100,000 |
| Zarrell GrayIndependent · Nominating (Chair) · Audit | 50,000 | 50,000 | 0 | 0 | 0 | 100,000 |
| David C. HardieIndependent | 37,500 | 37,500 | 0 | 0 | 0 | 75,000 |
| Bryan H. LawrenceIndependent · Audit | 0 | 0 | 0 | 0 | 0 | 0 |
| Brent K. BilslandEmployee director | 0 | 0 | 0 | 0 | 0 | 0 |
| Daniel HudsonIndependent · Newly elected | — | — | — | — | — | — |
| Barbara A. SuggIndependent · Audit · Compensation | — | — | — | — | — | — |
Board fee structure and ownership guideline
| Annual cash retainer | $75,000 |
|---|---|
| Annual equity retainer | $37,500 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 35,000 / 25,000 / 25,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $192,500 |
| Equity awards (grant-date value) | $192,500 |
| All other compensation | $0 |
| Total cost of the board | $385,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Hallador Energy as a peer
Companies that benchmark against HNRG
4 companies name HNRG as a compensation peer
- ARCH CAPITAL GROUP LTD.ACGLFY2025
- PEABODY ENERGY CORPBTUFY2025
- Ramaco Resources, Inc.METCBFY2025
Each company listed discloses HNRG in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named HNRG in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Hallador Energy Co | 2025 | Brent Bilsland | $675,000 | $0 | $0 | $659,230 | $1,442,407 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-27 | 27,365,688 | 171,098 | 1,774,083 | 99.38% | Passed |
| 2025 | 2025-05-29 | 22,045,261 | 5,289,818 | 399,757 | 80.65% | Passed |
| 2024 | 2024-05-30 | 18,307,213 | 7,309,952 | 14,320 | 71.46% | Passed |
| 2023 | 2023-06-01 | 15,620,239 | 4,502,551 | 100,214 | 77.24% | Passed |
| 2022 | 2022-06-09 | 15,570,203 | 592,778 | 299,091 | 94.58% | Passed |
| 2021 | 2021-06-03 | 13,775,887 | 406,096 | 277,545 | 95.27% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-05-27 | 99.38%a |
| 2025 | 2025-05-29 | 80.65%b |
| 2024 | 2024-05-30 | 71.46%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Approved under the standard stated in the filing — “Abstentions will have the same effect as a vote "against" the election of the nominee to the Board.”.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (18 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Brent Bilsland. DEF 14A, filed 2026-04-15. Section “Summary Compensation Table”. As printed: 1,442,407. View filing ↗
- Section 01, Marjorie Hargrave. DEF 14A, filed 2026-04-15. Section “Summary Compensation Table”. As printed: 1,132,765. View filing ↗
- Section 01, Heath Lovell. DEF 14A, filed 2026-04-15. Section “Summary Compensation Table”. As printed: 953,225. View filing ↗
- Section 01, Todd Telesz. DEF 14A, filed 2026-04-15. Section “Summary Compensation Table”. As printed: 805,867. View filing ↗
- Section 08, David J. Lubar. DEF 14A, filed 2026-04-15. Section “Director Compensation”. As printed: 110,000. View filing ↗
- Section 08, Charles R. Wesley IV. DEF 14A, filed 2026-04-15. Section “Director Compensation”. As printed: 100,000. View filing ↗
- Section 08, Zarrell Gray. DEF 14A, filed 2026-04-15. Section “Director Compensation”. As printed: 100,000. View filing ↗
- Section 08, David C. Hardie. DEF 14A, filed 2026-04-15. Section “Director Compensation”. As printed: 75,000. View filing ↗
- Section 08, Bryan H. Lawrence. DEF 14A, filed 2026-04-15. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Brent K. Bilsland. DEF 14A, filed 2026-04-15. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Daniel Hudson. DEF 14A, filed 2026-04-15. Section “Director Compensation”. As printed: —. View filing ↗
- Section 08, Barbara A. Sugg. DEF 14A, filed 2026-04-15. Section “Director Compensation”. As printed: —. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-05-29. Item 5.07 · say-on-pay result. As reported: 99.38% (votes for as printed: 27,365,688). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-06-02. Item 5.07 · say-on-pay result. As reported: 80.65% (votes for as printed: 22,045,261). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-06-03. Item 5.07 · say-on-pay result. As reported: 71.46% (votes for as printed: 18,307,213). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 09b board cost (computed). Computed. Cash 192,500 + equity 192,500 + all other 0 = 385,000, summed across the director compensation table rows.
- Hallador Energy Co (subject), Section 10b CEO total. DEF 14A, filed 2026-04-15. CEO total compensation as printed in Hallador Energy Co's own proxy. As printed: 1,442,407. View filing ↗